Refer to Table 14-8. If the firms act out of individual self-interest, which prices will they select?
A) Brawny Juice will select a high price, Power Fuel will select a low price.
B) Brawny Juice will select a low price, Power Fuel will select a high price.
C) Both firms will select a high price.
D) Both firms will select a low price.
D
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If the economy of Gwondanaland is growing more rapidly than the economy of Japan, most likely
A. Japan has more current investment than Gwondanaland. B. Japan has more government spending than Gwondanaland. C. Japan spends more on capital goods than Gwondanaland. D. Gwondanaland has lower current consumption than Japan. E. Gwondanaland has lower current investment than Japan.
An increase in government expenditure shifts the ________
A) labor demand curve to the left B) labor supply curve to the left C) labor demand curve to the right D) labor supply curve to the right
Suppose the long-run supply curve for a good is upward-sloping. The upward slope could be explained by
a. increases in production costs resulting from more firms coming into the market. b. a breakdown of the "free entry and exit" feature of competition. c. a breakdown of the "price taking" feature of competition. d. a stable demand curve for the good, that is, a demand curve that never shifts.
Refer to the information provided in Table 23.4 below to answer the question(s) that follow.
Table 23.4
Refer to Table 23.4. Assuming society's MPC is constant, at an aggregate income of $1,000 aggregate saving would be
A. $50. B. $150. C. $225. D. $425.